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warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [ laughter ] >> eric: so now warren buffett wants to weigh in on taxes. politics and americans need to hand over more of our dough. mr. buffett, oh, sage one. put down the ping-pong paddle and the ukulele and the tax plan. the gift is with profit margins, ebidah. the man, fantastic investor, but he is suggesting a minimum tax, to raise etch's wealth. wealthy people's taxes to trickle down to everywhere else. i can't imagine the economy can handle that. >> dana: i have very little patience for the extremely rich who want to make it harder for other p
warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [...
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some people like warren buffett are willing to do that. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements. it's about cutting entitlements. >> the same guys at the trough for a bailout are now experts on what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein throws a scenario. people don't have 25-year careers. they have 40-year careers. and construction people when they get in their early 50s and worked for 30 years, their bodies are broken down. >> exactly. >> what are they supposed to do? hang around for another 15 until medicaid shows up? they are paying lip service. it's romney 2.0. that's all it is. so what should liberals in this country be prepared to accept at this point as you see it? >> i really think that we should go back to the clinton rates, which are still lower than they should be. that's where we ought to start. if people want to talk about tax reform, let them get specific. because there are ce
some people like warren buffett are willing to do that. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements. it's about cutting entitlements. >> the same guys at the trough for a bailout are now experts on what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein throws a scenario. people don't have 25-year careers. they have 40-year careers. and construction people...
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click or call. >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover norquist's imagination does such a response exist. it's true. for ultra rich warren buffett and as pointed out previously, it is true for bill o'reilly and rush limbaugh. buffett supports a minimum 30% federal tax on incomes over 1 million and a minimum 35% tax rates on incomes over 10 million. at the white house today, jay carney issued this challenge. >> the reality is closing loopholes and ending deductions as an alternative to raising rates on the top earners, those making over $250,000 sounds good, but you have to look at the proposal. math tells us that you can't get the balance you need without having rat
click or call. >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover...
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you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose a football game. will coach andy reid survive another week? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. fre
you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax...
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another example, the other day, yesterday, in the "new york times", warren buffett had a piece calling for the buffett rule of 30 percent tax on rich people, and even if you do that and even if we pass that law that raises $5 billion a year, that is .5 percent of the deficit. we cannot get there, get the deficit down without significant cuts in spending. >>neil: the election has consequences and you could argue that a key premise of the president's re-election was i will raise taxes on the rich and he is likely entitled to that, he will likely see that but it is all the other things they are leveraging with democrats do not touch entitlements and putting everything on table it remind me of george bush sr. he agreed to reverse the pledge oh ride -- "read my lips, no new taxes." but the democrats never offered correspondenting spend cuts. we know what happened to him. what happens to those who agree do in the republican party? >>guest: the republican party has to stand for economic growth and it has to stand for the principle that keeping tax rates low and reforming the tax system is the
another example, the other day, yesterday, in the "new york times", warren buffett had a piece calling for the buffett rule of 30 percent tax on rich people, and even if you do that and even if we pass that law that raises $5 billion a year, that is .5 percent of the deficit. we cannot get there, get the deficit down without significant cuts in spending. >>neil: the election has consequences and you could argue that a key premise of the president's re-election was i will raise...
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warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. okay, that looks great... [ camera flash ] were you profitable last m mont? how much money is in your checking account? have the browns paid you for their addition yet? your finances are scattered all over the place. what are your monthly expenses? you keep your receipts in plastic baggies? seriously? [ announcer ] get it done and get it off your mind... with quickbooks. organize your small business finances... all in one place. quickbooks pulls in information from other sources. evennline banking and customer information. visit tryqckbooksfree.com today to start for free. and now your business can be at your fingertips, anywhere, with the convenient mobile app. from creating customized invoices, to tracking sales and expenses, quickbooks can help you manage... every detail of your business. and at tax time, all your records... will be automatilly organized and ready to go, saving you time on prep work. quickbooks, guaranteed easy or
warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. okay, that looks great... [ camera flash ] were you profitable last m mont? how much money is in your checking account? have the browns paid you for their addition yet? your finances are scattered all over the place. what are your monthly expenses? you keep your receipts in plastic baggies? seriously? [ announcer ] get it done and get it off your mind... with quickbooks. organize your...
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warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered by retailers on black friday. worries about the fiscal cliff, greece of combining for a market that pretty much went nowhere today. the dow jones industrials down 42. as into down treatment nasdaq rose ten. the sixth day in a row in which the nasdaq has gained. light trading on the big board. concerns about increases in taxes on dividends for the high-yield dividend stocks of late. today at&t and verizon down, both with dividend yields of just about 5%. most retailers lower on the day despite good news on the holiday shopping weekend. target and walmart among
warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered...
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but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gaines rates and yord nan income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. why is there such a hang-up even to the point that republicans have signals willingness to find revenue in other places as lodge as they do not actually increase the rates? >> i think the hang-up is broader than that. and what mr. buffet is asking for simplicity. as far as investors go, they simply want things to be resolved because again unless there's clarity in the future, you're just not going to see much happenin
but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds...
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>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go up. the real economy, if he thinks the government can take a dollar and you go do an invest or who does not have that dollar and it does not infect investment that is silly unless he lands on going to obama and getting money from a stimulus package and he considers that investment. when the government takes a dollar away from the american people or $1 trillion, that is a trillion not available to be saved and invested, and i am sorry if buffett can't see that but that is silly. >>neil: do you worry, fairly or not, you have been seen as you unique wizard of oz figure who has been able to keep republican
>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go...
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. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the room for the gop to continue to argue against taxing the rich at a higher rate. >> there really isn't for a whole host of reasons not the least of which is politically speaking it doesn't make sense. the study you talked about at the beginning, here is what a lot of people don't realize. for many americans the way they do christmas, they take out a loan. that's how they pay for christmas presents hoping the tax return that they get back, the money they get back from the taxes will be able to pay off that loan. that's how a lot of americans are living their lives. i think the republicans have got to recognize they can no lo
. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the...
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meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle of omaha writes, "let's forget about the rich and the ultrarich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased." >>> after weeks of criticism over u.n. ambassador susan rice, senator john mccain who vowed to block her potential nomination as secretary of state appears to be backing off that threat. >> she could conceivably get your vote for secretary of state? >> i think she deserves the ability and the opportunity to explain herself and her position, just as she said. >>> actor ben affleck has long been involved in efforts to help the victims of war-torn eastern congo. on sunday he talked about his call for the u.s. to take a more active role. >> i think our actions in foreign policy, and maybe i'm naive, represent our values and represent who we are. and if any american were to go to that country and stand and see what was happening there
meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle of omaha writes, "let's forget about the rich and the ultrarich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased." >>> after weeks of criticism over u.n. ambassador susan rice, senator john mccain who vowed to block her...
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the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senators lindsey graham, saxby chambliss, congressman peter king among other republicans who said they'd be willing to break away from grover norquist's anti-tax pledge. will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal
the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to...
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. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was the one that in a way started all this, susan, because he talked about he shouldn't pay a lower tax rate than his secretary. now he's saying that taxes should rise, maybe for people making over $500,000 a year. a lot of republicans loved him for his business sense, but have they stopped listening to him now? >> well, and of course, if you raise the minimum tax on millionaires, i think americans would be all for that. the trouble is, it doesn't really raise you enough money, not the kind of money we're talking about. and even going down to $500,000, the reason that the level's been set at $250,000 per household by the w
. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was...
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warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
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coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ] for everything they need to hear, there's a hallmark card. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ man ] and what did you think? i loved it. why? 'cause it's a toyota, of course! i want a car that's gonna last me for a little while. ♪ i like the bells and whistles. that's my favorite part about the car. i like the navigation. i like the entune. and it's fast. [ male an
coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ]...
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. >>> billionaire investor warren buffett on monday i asked him about the fiscal cliff. here is part of that interview. >> what happens if the fiscal cliff comes and happens? what will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide. so i think if -- i hope something gets worked out before january 1st. if it goes a little bit beyond that, i don't think -- >> if it's january 10th -- >> if you guaranteed me that the fiscal cliff, we would go past that, i wouldn't sell a share of stock today. >> you have confidence that in the end they will fix it? >> and that this economy works. >> he is confident of a deal huh? >> he really does. he believes there's a possibility -- he thinks it will take some time. first thing he wants to see is a minimum tax, which they can do now in terms of people who make more than a million dollars, minimum tax
. >>> billionaire investor warren buffett on monday i asked him about the fiscal cliff. here is part of that interview. >> what happens if the fiscal cliff comes and happens? what will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide....
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and in today's times, i think warren buffett also suggested to raise it to $500,000, not $250,000. so that could be more palatable, too, to upper middle class people. they'll get a break up to $500,000. but it's very hard once you hit the million-dollar bracket to say, oh, no, no, we're going fro text those people. clearly these republicans are seeing the same poll numbers that obama is seeing, that this is not where the american people are right now. >> it's interesting you bring up the poll numbers. keith, let me bring you in on these. we know a exit poll combines. our first read team points out a republican pollster david winston says 61% say the better way to raise revenue is closing loopholes and reforming the tax code and they're seeing some republicans look at that particular poll over the one we've ma jorlly talked about, which is the exit polling. >> i wonder if these are the same republican pollsters who said romney is going to win in a landslide. >> touche, touche. >> you have to take this with grain of salt. the reality is the american people knew what barack obama was
and in today's times, i think warren buffett also suggested to raise it to $500,000, not $250,000. so that could be more palatable, too, to upper middle class people. they'll get a break up to $500,000. but it's very hard once you hit the million-dollar bracket to say, oh, no, no, we're going fro text those people. clearly these republicans are seeing the same poll numbers that obama is seeing, that this is not where the american people are right now. >> it's interesting you bring up the...
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. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the floor. >> i'm more positive than most. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for americ
. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the...
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most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if you include deductions you don't necessarily have to go to 39%. you can go to 37% if you are looking for compromise. but i think there's a bigger issue here as well, and that is the idea this is a slightly critical towards the democrats, the biggest issue that this country faces right now is getting us back to 4% economic growth, 3% or 4% economic growth and seeing wages increa
most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans...
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we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and, andrea, a bigger question, as we go to a new congress, is john mccain going to continue to have the disproportionate impact that he has on foreign policy in the republican senate caucus? mika and i talked to so many people over the past two, three years that say we want, republican senators, we want out of afghanistan but, you know what, we just sort of stay out of john's way. how many times have we heard that? >> a lot. it's disturbing. >> we hear it all the time. they stay out of his way. are they going to blindly follow and, again, i l
we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and,...
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he's not supporting right wing -- >> stephanie: like warren buffett. all right. john fund on fox news. >> i don't think any car company deserves a loan. we've already seen what happened when general motors became government motors. it hasn't worked out well. >> what are you talking about? >> i think ronald reagan is right. when he warned businesses seeking help from the government never, never get into bed with the government. you'll never get a good night's sleep. obviously the government is going to practice carney capitalism. the government is about politics. >> wow. >> stephanie: hmm. i guess that's in the world where the auto rescue wasn't a huge success? >> i think he's viewing it through the very narrow prism of republican politics. it was not as successful as the vote in ohio and michigan and lots of other places showed. where was the "wall street journal," you know, demanding that you know, the wall street banks in 2008 not accept a penny. they should work it out themselves. that's what the market place dictates. who has received more handouts than anyon
he's not supporting right wing -- >> stephanie: like warren buffett. all right. john fund on fox news. >> i don't think any car company deserves a loan. we've already seen what happened when general motors became government motors. it hasn't worked out well. >> what are you talking about? >> i think ronald reagan is right. when he warned businesses seeking help from the government never, never get into bed with the government. you'll never get a good night's sleep....
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Nov 26, 2012
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. >> warren buffett. excellent, powerful piece "new york times" in the about taxes on the rich. he says the rich have been just beating the middle class in the economy over the past three decades. he has some great statistics. he also says this notion that rich people like him will stop working hard and investing if taxes go up is crazy. he says, i made a lot of money in the '50s, in the '60s when taxes were higher. it's time for us to pay up. a very powerful piece. >> he starts off that piece "new york times" in the saying an investor you had miadmire comesd says i've got this great deal. i'm in. you should be, too. would you reply it all depends on the tax rate on the gains i'm going to make. if the taxes are tie hioo high goes on to slap grover norquist. >> that's not fair. >> in this piece he actually says he's in favor of higher taxes for the rich. but he actually disagrees with the president at what level shah should kick in. he thinks it should be half a million. very interestingly, he says at the very, very top it should be a minimum rate of 35%. >> i think it's going to
. >> warren buffett. excellent, powerful piece "new york times" in the about taxes on the rich. he says the rich have been just beating the middle class in the economy over the past three decades. he has some great statistics. he also says this notion that rich people like him will stop working hard and investing if taxes go up is crazy. he says, i made a lot of money in the '50s, in the '60s when taxes were higher. it's time for us to pay up. a very powerful piece. >> he...
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Nov 28, 2012
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warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in iraq -- in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year 2001 when the federal government ran a $128 billion surplus. compared to the 2001 figure, we are spending less on non- security concessionary spending than we were. the growth in spending has not been in the non-defense discretionary. the cost of security programs in that same time. has gone up 60%. the cost of mandatory programs is up 30%. i want to call your attention to one aspect progressives need to remind people. of the $1.50 trillion already in spending cuts, $900 billion comes from spending. we have given far more than when it comes to defense side. for atalk about those minute
warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in iraq -- in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year...
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Nov 27, 2012
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. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on people who are productive or have a couple of good years in their business. i think all of that discourages economic growth and discourages risk taking and entrepreneurship. so i'm in favor of moving in the direction of a flatter tax system. of fewer brackets, lower rates, simplicity where we get rid of all the distortions that happen in the tax code, rather than speculating about how many different new brackets we should create. >> i want to get to benghazi. on taxes you talk about closing loopholes and reducing destructions. grover norquist says that would
. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on...
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this one by warren buffett. whether he would give more of his tax dollars if given the opportunity. he says let's forget about the rich and alternate going on strike and stuffing their money under the mattress. we will look at some other opinions. a republican from tennessee, bob corker, a member of the senate banking committee. he writes in the washington post -- fred in lancaster, south carolina, good morning. caller: good morning. the one caller named interior was pretty close to being right. -- named jerry. it wants to cut taxes, how about we bring some of the foreign aid home to pay down some deficits? how about that? we are talking about obamacare. why not put a cap on a $100 aspirin at a hospital and instead say it's $10? i think that's more than enough. host: senator mike lee as a commentary in the washington times -- that is from the "washington times. mike lee is also a member of the joint economic committee. tony is our next caller in las vegas, nevada. caller: hi. on the fiscal cliff, this has been the unspoken agenda of the democratic party for a long time. they want th
this one by warren buffett. whether he would give more of his tax dollars if given the opportunity. he says let's forget about the rich and alternate going on strike and stuffing their money under the mattress. we will look at some other opinions. a republican from tennessee, bob corker, a member of the senate banking committee. he writes in the washington post -- fred in lancaster, south carolina, good morning. caller: good morning. the one caller named interior was pretty close to being...
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Nov 28, 2012
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buffett has, where people who make $1 million should pay 30%. host: the average tax percentage is about 10%. if you look it this chart here -- host: eric, rome, georgia. caller: i have an article here that says why congress will not tax the 1%. it tells you about the congressman. 261 are millionaires or billionaires'. the top republican, darrell issa, is worth $441 million. dick armey handed bush a budget for 10 years, and it squandered the surplus. what the article states is they will not raise taxes on the 1%. it is because they are the 1%. host: use of the number in that article is -- you said the number in that article is 261. caller: are millionaires or billionaires'. guest: the caller makes a good point, that the wealth of people in congress has diverged from the average wealth of americans, and a colleague of mine wrote an article looking at this trend, as over the last three years the average net worth of members of commerce has grown extremely well. -- congress has grown extremely well. i do not know if they are motivated by their own i
buffett has, where people who make $1 million should pay 30%. host: the average tax percentage is about 10%. if you look it this chart here -- host: eric, rome, georgia. caller: i have an article here that says why congress will not tax the 1%. it tells you about the congressman. 261 are millionaires or billionaires'. the top republican, darrell issa, is worth $441 million. dick armey handed bush a budget for 10 years, and it squandered the surplus. what the article states is they will not...
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Nov 29, 2012
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buffett mind us, their effective tax rate is quite low. the wealthy are going to have to start paying their fair share of taxes. and i am happy to report to you what you already know. is that more and more republicans are catching on to that fact. >> but the republicans did maintain a significant majority in the house of representatives and it takes two to tango. >> absolutely. but i think the republicans are also good politicians. they have seen the polls, they have seen the election results and more and more republicans have been saying, you know what, we're going to have to ask our wealthy friends to start paying their fair share of taxes and do what we did in the senate, which is protect the bottom idea. >> but you're not open to any cuts in entitlement spending? >> well, first of all, social security, as most americans know -- >> what about medicare and medicaid? >> what you can do withmedicaid a lot of the waste. for example, right now under the medicare part d prescription drug program, we can't negotiate prescription drug prices wi
buffett mind us, their effective tax rate is quite low. the wealthy are going to have to start paying their fair share of taxes. and i am happy to report to you what you already know. is that more and more republicans are catching on to that fact. >> but the republicans did maintain a significant majority in the house of representatives and it takes two to tango. >> absolutely. but i think the republicans are also good politicians. they have seen the polls, they have seen the...